The Bank of New York announced today that James Malgieri will replace Shaun Parkes as head of global collateral management. Parkes left in September to join Deutsche Bank.
Malgieri, who joins as Managing Director and Product Manager of Global Collateral Management services, will be responsible for the strategy, product development and sales of collateral management services globally. “We are pleased to have Mr. Malgieri join our team,” said Art Certosimo, senior vice president, The Bank of New York. “His insight into the brokerage industry will strengthen our ability to provide innovative solutions and will enhance our relationships with our securities industry clients and investors.”
Malgieri joins The Bank of New York with over 19 years of securities services experience. Prior to joining BNY , he was a senior vice president in Lehman Brothers’ prime brokerage business. He will report to Certosimo, who heads the Bank’s Broker Dealer Services Division.
BNY claims to be the world’s largest provider of tri-party custodial services, processing over $575 billion in repurchase transactions daily through hubs in London, Brussels, Singapore, and New York.